Core Assets Submits Amendments to Exploration Permit Atlin Mining District, British Columbia

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VANCOUVER, BC / ACCESSWIRE / November 29, 2021 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(FSE:RJ)(WKN:A2QCCU)(OTCQB:CCOOF) is pleased to announce that it has submitted a permit amendment application to the British Columbia Ministry of Energy, Mines and Low Carbon Innovation for the Blue Property (the "Property"), located in the Atlin Mining District of northwest British Columbia. This amendment requests for additional helicopter-supported drill sites and the option to complete induced polarization geophysical surveys within a broader area totalling 29,460 ha (Figure 1). The newly proposed permit area will include the new Ag-Zn-Pb-Cu Grizzly Manto Discovery Zone, as well as the Amp and Sulphide City showings, all of which are located immediately to the northwest of the Jackie Showing (see News Release dated: September 27, 2021).

Highlights

  • Core Assets is currently permitted for diamond drilling at the Laverdiere and Jackie showings (see Figure 1)

  • If approved, the permit amendment will include 50 helicopter-supported diamond drill sites and up to 30-line kilometers of induced polarization geophysical surveys over the recently staked ground that includes Ag, Zn, Pb, Cu massive sulphide showings within the Blue Property.

  • The proposed permit amendments will allow for exploratory diamond drilling at Core Assets' Grizzly Manto Discovery Zone, which was discovered in 2021 and extended massive sulphide mineralization at surface to 6.6km x 1.8km and remains open.

  • The average grade of 44 samples collected in 2021 at the Grizzly Manto returned assay values of 8.2% Zn, 1.8% Pb, 0.40% Cu and 110 g/t Ag over a 500m strike length.

  • Initial interpretations from the 2021 Versatile Time Domain Electromagnetic Survey (VTEM) and assay results from channel sampling campaigns are expected to be released in the coming months.

Core Assets' President and CEO Nick Rodway comments: "The Grizzly Manto represents a very significant high-grade mineralized zone that was discovered on ground we staked in 2021. This ground has proven to be extremely prospective and is contiguous with the original area of the Blue Property. Making amendments to our pre-existing exploration permit will allow for the Company to explore this newly discovered mineralized zone at depth, through IP surveys and exploratory diamond drilling".

About The Grizzly Showing
The Grizzly Showing was discovered by Core Assets personnel during the 2021 Phase 1 exploration program. The Showing consists of two subparallel zones interpreted to be surface expressions of carbonate replacement mantos. High-grade massive sulphide mineralization was sampled at surface from the westernmost exposure for a total of approximately 500 meters along strike, with widths up to 5 metres and open under heavy scree. The eastern zone was tracked for approximately 150 meters. Mineralization within each zone remains open in both directions along strike. A total of 43 outcrop samples and 1 float sample was collected at the Grizzly Manto Discovery Zone in 2021. An annotated photo of the area can be found in Figure 2.